After graduating from the University of Petrograd in 1916, Lebedev continued to work there. He was one of the founders of the Optics Institute. His main works were on applied and industrial optics, as well as electron optics.

Lebedev studied the process of annealing of optical glass and developed the crystallite theory of the vitreous state. A number of his works were devoted to the study of interference and its various applications. Together with his co-workers, he constructed the first Soviet electron microscope (State Prize of the USSR, 1947). He also worked on photoelectric effects and constructed various radiation detectors. Under his direction a camera was developed for photographing high-speed processes (State Prize of the USSR, 1949).

Lebedev was a deputy to the third and fourth convocations of the Supreme Soviet of the USSR. In 1953–56 he was the vicechairman of the Soviet of the Union of the Supreme Soviet of the USSR. He was awarded the Lenin Prize (1959), four Orders of Lenin, and three other orders, as well as medals.

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